Mubasher: Gold (XAUUSD) is currently trading in a clear upward direction within an ascending channel on the four-hour timeframe, in line with approaching the historical peak.

The price is maintaining trading above the moving average, which reinforces the strength of the upward trend.

Technical analysis shows that the price is approaching potential reversal areas supported by Fibonacci Price Extensions that are located near the range of $4,369.95 per ounce and $4,397.95 per ounce.

If the price manages to stabilize above these levels, it is likely that the price movement will extend to the level of $4,422.70 per ounce.

These levels coincide with the upper limit of the ascending channel, which indicates the possibility of fluctuations or a corrective movement in the short term.

Important Note: This analysis relies solely on the foundations and tools of technical analysis and reflects a purely analytical perspective that may vary depending on the methods of interpretation and assessment. What is stated in this report should not be considered a direct recommendation to buy or sell, nor an invitation to make any investment decisions; it is for monitoring and study purposes only. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.